Does it have any impact to repay the credit card back and forth?

The repayment of the credit card back and forth is commonly known as "using the card to support the card". This method can help ++++ in difficult times You solve the immediate problem, but it is not a long-term solution. The essence of credit card back-and-forth is cashing out on a credit card. The main method is to cash out at very low fees through POS machines and other tools, and use the money cashed out from one credit card to pay off another credit card bill.

There are two ways to repay credit cards back and forth: one is to use some method to cash out and then repay, such as using a POS machine provided by a merchant to cash out. This is also how most people cash out. Another common method is to use a credit card to withdraw cash from a bank ATM, etc., and deposit the withdrawn cash into other credit cards for normal repayment.

Be careful when using two credit cards to repay each other backwards:

1. Don’t cash out your credit cards too frequently. Cashing out by credit card itself is illegal and carries legal risks, and using an intermediary company to cash out may also leak credit card information and lead to fraud.

2. It is best to repay the money as soon as possible after withdrawing cash from your credit card. Normal cash withdrawals and repayments on credit cards will accumulate withdrawal interest and handling fees, increasing repayment costs;

3. There should be a certain interval between the repayment dates of two credit cards that repay each other to avoid overdue due to insufficient turnover. .

It is indeed feasible to repay two cards back and forth, but it is risky. On the one hand, the bank may block the card and reduce the limit, and on the other hand, you may face high interest rates. and handling fees.

Consequences of overdue credit cards

1. Overdue credit card fees. The so-called late payment fees for credit cards refer to the fees that the cardholder should pay to the card-issuing bank according to regulations when the cardholder fails to repay before the due payment date (inclusive) or the repayment amount is less than the minimum repayment amount.

2. Overdue interest. After a user uses a credit card to overdraft, there is generally an interest-free repayment period ranging from more than 20 days to more than 50 days. If the cardholder repays overdue, all the expenses of the cardholder last month will no longer enjoy the bank's interest-free payment. treatment, and the recurring daily interest rate is as high as 0.5%, that is, the annual interest rate reaches 18%.

3. Bad credit record. Overdue credit card repayment records will enter the central bank's credit reporting system to generate bad credit records. my country's personal credit reporting records have been networked nationwide. As long as individual residents have handled loan business at banks, applied for credit cards, or provided guarantees for others, they will be credited. Then you can check your credit report at any domestic commercial bank.

4. Litigation costs. If the credit card is not repaid for more than 3 months, the bank will ask a lawyer to issue a lawyer's letter to the user and file a lawsuit. The litigation costs will be borne by the cardholder.

5. Criminal liability for malicious overdraft. According to Article 196 of my country's Criminal Law and relevant judicial interpretations, malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return it after being called by the card issuer. Those who maliciously overdraft and engage in credit card activities will be held criminally responsible for credit card crimes and may be sentenced to a term of not more than 5 years or short-term imprisonment, and a fine of not less than RMB 20,000 but not more than RMB 200,000.

Tips for credit card repayments

Tips for credit card repayments

Tips for credit card repayments. Nowadays, many people have their own credit cards. Credit cards The mobile phone can be overdrawn, and many times it is necessary to swipe the credit card to save money. If you swipe the credit card, you will always have to pay it back. If it is not repaid, it will have a great impact on us. Here we share the tips for repaying the credit card back and forth.

Tips for recurring credit card repayments 1

The tips for recurring credit card repayments are as follows:

The repayment amount and the credit card amount should not be similar or the same

It is best to wait at least 2 hours between each swipe of the card

Swipe the card on the same day and pay back the next day

The credit card limit can be used repeatedly. As long as there are repayments in your account, the credit card's available limit will be restored in real time. After the billing date, you can pay off the credit card bill by cyclically swiping the card for repayment. However, you should pay attention to the technique of cyclically swiping and paying back cards, otherwise it will easily trigger the bank's risk control and cause the credit card to be reduced and blocked.

Tip 1: The repayment amount and the credit card amount should not be close or the same

Many people always postpone the payment until the final repayment date. So at this time, time is very tight.

If you do not pay off your credit card bills in time, you may incur high interest due to the minimum payment, and even risk overdue payments. Therefore, when the final repayment date is approaching, many cardholders will make one payment, one payment, another payment, and another payment.

This type of repayment is the easiest to be risk-controlled by banks. With this kind of operation, it is easy for the bank to mistakenly think that you are "cash out". Over time, it will cause risk control. When you reverse the card again, you will find that although the money is still in it, it cannot be swiped out. After checking, you will find out that the credit card has been reduced.

So during the card transfer process, it is best not to have the repayment amount and the credit card amount close to or the same.

Tip 2: It is best to wait at least 2 hours between each credit card swipe

Everyone knows that when a credit card is reversed, the funds must be withdrawn in multiple tranches after repayment. The card maintenance technique is called small amount and multiple transactions, but since it is a card reversal, naturally it cannot be small amount. But pay attention to the time interval between card swiping. If the two card swiping times are very close to each other, it will also cause risk control by the bank.

Especially when the credit card merchant appears out of town. For example, the merchant address for your first swipe of credit card is in city A, and the merchant address for swiping your card a few minutes later is in city B, and the two cities are hundreds of kilometers apart. So how do you explain it, can the bank trust it? Therefore, it is best to wait at least two hours between each time you swipe your card.

Tip 3: Swipe the card on the same day and pay back the next day

For example: the bill amount is 20,000, and the available limit is 10,000. I divided 4 transactions that day and got 10,000 out. If the 10,000 yuan is returned on the same day, it is likely to trigger risk control by the bank. At the same time, due to the rapid inflow and outflow of funds on your debit card, it is very likely that the bank will restrict "over-the-counter transactions". Therefore, whether it is a credit card or a debit card, it is best to swipe the card on the same day and pay back the next day.

In addition to the above tips, you also need to avoid making large deposits and withdrawals on credit cards, and fast in and out. At the same time, you also need to pay attention to whether the merchant using the card is a preferential merchant? For each card payment, whether points are credited to the account, etc.

To summarize: Tips for recurring credit card repayments are: 1. The repayment amount and the credit card amount should not be similar or the same. 2. It is best to wait at least two hours between each swipe of the card. 3. If you swipe the card on the same day, it is best to repay the card the next day. If you do the above, the probability of your credit card being risk controlled will be very small.

Tips 2 of back-and-forth credit card repayments

Credit card back-and-forth repayments are commonly known as "using cards to support cards". This method can help you solve ++++ difficulties. It is urgent, but not a long-term solution.

There are two ways to repay each other back and forth with credit cards. One is to repay the money after cashing out through certain means, such as using POS machines provided by some merchants to swipe the card (cash out);

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The other is normal cash withdrawal and repayment, that is, using a credit card to withdraw cash through a bank ATM, etc., and then depositing the withdrawn cash into another credit card for repayment.

When using two credit cards to repay each other, you need to pay attention to the following tips:

1. Credit card cash (cash) should not be too frequent. Credit card (cash-out) itself is illegal and involves legal risks, and using an intermediary to (cash-out) money may also leak credit card information and cause fraud;

2. It is best to repay as soon as possible after withdrawing cash from a credit card. Normal cash withdrawal and repayment of credit cards will accumulate cash withdrawal interest and handling fees, which will increase the repayment cost;

3. There should be a certain interval between the repayment dates of two credit cards that repay each other to avoid overdue due to insufficient turnover. .

1.2 Use credit cards backwards

How to use two credit cards, this just means that one credit card is cashed and then used to repay the second credit card, and the first credit card’s The balance owed is charged to the second credit card, which will enter a cycle and allow for unlimited repayments.

Of course, there is no free lunch in the world, and two credit cards must be cashed back and forth at a high price. At present, the normal cost of cash withdrawal by credit card is relatively high. Banks in most areas generally charge a handling fee of about 1%-3% for credit card overdraft withdrawal, no matter where they are.

Of course, if you want to withdraw cash, you need a handling fee to get cash through POS machines, etc. Interest will also accrue on the resulting transaction amount if it is not repaid in full by the repayment date.

2.2 Tips for lossless reversal of credit cards

First of all, when setting the billing date of a credit card, it is best to set it in the middle or late month, because there are accounts that need to be counted.

For example, on May 2, Wang wanted to use his credit card to spend money to buy household appliances. He has two credit cards. One credit card has a billing date of 5 days, and the other credit card has a billing date of 15 days.

If he wants to fully enjoy the longest interest-free period of his credit card, he can do this: the invoicing date of card A is 5 days, then the repayment date is 25 days, and the interest-free period is May 2 23 days until May 25th.

However, the billing date for Card B is the 15th, and the repayment date is approximately the 5th of the next month. If the card is swiped on May 2, the money will be recorded in the current bill, and the interest-free period is from May 2 to June 5, which is about 33 days.

Based on this calculation, the consumption card B chosen by Wang is much more affordable than the consumption card A.

Tips 3 for back-and-forth credit card repayments

1. Multi-card recurring credit card repayments

For example, Zhang San has two credit cards, both with a limit of 5,000 yuan. This month, Card 1 has almost been used up, but Card 2 has not been used yet. So when Card 1 needs to be repaid, Zhang San only needs to withdraw the money from Card 2 and return it to Card 1, so that Card 1 can pay off the bill.

And the bill for Card 2 has not yet expired. When the bill for Card 2 is due, you can withdraw Card 1 and pay Card 2. In this way, you can make recurring repayments without worrying about running out of money.

One thing to note when repaying through this method is that it is best not to withdraw money directly from the cash machine, as this will generate high interest. When withdrawing cash, it is best to use a POS machine. You can find some merchants to pay some handling fees to withdraw money. Generally speaking, this kind of withdrawal will cost about 40-70 for a handling fee of 10,000, but it is better than withdrawing money directly from an ATM machine. few.

2. Single-card recurring credit card repayment

This method does not require us to have two credit cards. We only need one card to make recurring repayments. We also use Zhang San’s example to analyze the operation process.

Zhang San has a credit card with a limit of 10,000 yuan. He has used 5,000 yuan and cannot pay it back on the repayment date. Then Zhang San will use the remaining 5,000 yuan limit when the repayment date is approaching. The 5,000 yuan that was withdrawn before will not need to be paid back until next month. Zhang San will pay back the money the next day, so that this month's bill will be paid off.

Credit card repayment skills: Credit card multi-card and single-card recurring repayment methods

By doing this, you can prevent yourself from overdue repayments, maintain a good credit report, and pay every month It is repayment in full and there will be no handling fees. The most important thing is that we do not need to repay when we have no money, which can reduce our pressure to the greatest extent.

However, you must be cautious when using this method. First, do not max out the card, so that you cannot use a single card cycle to repay. Second, do not use it frequently. Use it occasionally when you are in difficulties to avoid being discovered by the bank's risk control department.

Credit card repayment skills: Multiple credit card and single card recurring repayment methods

Finally, I would like to remind everyone that even if we use the above two methods to pay off the credit card money, this You have to pay back your money sooner or later, so don't take any chances. It doesn't hurt to do it occasionally, but you may be risk-controlled if you use it regularly. Remember this.

The credit card cannot be paid back again and again

One way is to use some method to cash out and then repay, such as using a POS machine provided by a merchant to cash out. It is also a common method used by most people. The other method is to use a credit card to withdraw cash through bank ATMs, etc., and deposit the withdrawn cash into other credit cards for normal repayment.

When using two credit cards to repay each other backwards, you need to pay attention to the following tips:

1. Don’t cash out your credit cards too frequently. Cashing out by credit card itself is illegal and carries legal risks, and using an intermediary company to cash out may also leak credit card information and lead to fraud.

2. It is best to repay the money as soon as possible after withdrawing cash from your credit card. Normal cash withdrawals and repayments on credit cards will accumulate withdrawal interest and handling fees, increasing repayment costs;

3. There should be a certain interval between the repayment dates of two credit cards that repay each other to avoid overdue due to insufficient turnover. . It is indeed feasible to repay two cards back and forth, but it is risky. On the one hand, the bank may block the card and reduce the limit, and on the other hand, you may face high interest and handling fees.

So everyone should consider their repayment ability when making daily purchases, and cannot spend blindly.

Failure to pay off your credit card will inevitably lead to consequences. In addition to repaying the huge overdraft and interest, you will also bear legal liability. Therefore, some card friends will give up on themselves and feel that they owe so much and they can't pay it off anyway, so let it go. In fact, if you can't pay off your credit card, you should find a way to solve it.

If you still can't make it, you can choose to pay in installments. Applying for the maximum amount of installments can not only relieve the pressure of monthly repayment, but also not incur more interest. Or the minimum monthly repayment, the proportion of the minimum repayment amount is generally 10% of the total bill. As long as you ensure that you repay according to the minimum repayment amount every month, it will not affect your personal credit and will not incur late payment fees.

Apply for a deferment of repayment, go to the bank to apply for a deferment of repayment, and indicate a clear repayment date, then you will have three days to defer repayment. You can also find someone to repay the credit card on your behalf, such as some institutions or individuals that repay credit cards on your behalf. You only need to pay the interest to the individual or institution that repays the credit card on your behalf every month for the time being. If the credit card cannot be repaid, it is best to negotiate with the bank for repayment. You must know that it is very troublesome to pay back the overdue credit card. Apart from the impact on your credit, you may also be investigated for criminal liability. After all, if the bank has not paid the bill twice in three months, it can be classified as a malicious overdraft. Therefore, it is recommended to pay the overdraft before it is overdue. Negotiate with the bank.

Can I use several credit cards to transfer money back and forth?

No, it is illegal.

There are generally two ways to achieve mutual transfer of credit cards. One is to use point-of-sale terminals (POS machines) and other methods to swipe out credit card money through false transactions, which is commonly known as cashing out; the other is to use Withdraw cash from your credit card.

The former is obviously illegal, because the purpose of banks issuing credit cards is to promote consumption. Although it also supports the use of cash, it requires that cash must be withdrawn through an ATM machine or counter. It is strictly not supported to withdraw the funds within the credit limit of the card in the form of cash.

Consequences:

No matter which method is used to cheat each other, it is a kind of practice of tearing down the east wall to pay for the west wall. It cannot solve the problem from the root cause. The money owed to the credit card It will still exist.

If you use cash withdrawal to reverse the card, you will owe more and more money. In addition to the principal, you will also incur cash withdrawal interest and handling fees, which is quite uneconomical.

Credit card cash out can easily be risk controlled by banks. After all, banks have their own anti-fraud departments and risk identification systems that can identify risky transactions through big data + manual inspection. If the bank recognizes that you are cashing out, it will at least reduce your credit limit and block the card, or at worst, it will pursue your legal liability.

In short, regardless of whether it is illegal to charge back credit cards, there are still certain risks. We should avoid this practice and use cards compliantly is the long-term solution.

That’s it for the introduction of credit card back-and-forth transfer.